Bitcoin crosses $100K as Trump’s inauguration fuels optimism for pro-crypto policies and potential market-shifting announcements.
It’s official, Bitcoin has crossed the $100,000 mark again. This has been fueled by easing inflation fears and growing anticipation of pro-crypto policies from President-elect Donald Trump. Bitcoin jumped 10% from Monday’s lows, briefly touching six figures. Matt Mena from 21Shares noted, “The removal of inflation fears clears the way for Bitcoin to break through the strong $100,000 resistance level,” adding that Trump’s support for growth policies bolsters the bullish outlook.
Trump’s campaign pledge to establish a Strategic Bitcoin Reserve is drawing significant attention. Nathan Cox of Two Prime explained that even the prospect of such a move could lead to “asymmetric price discovery.” If Bitcoin surpasses its $108,000 all-time high, it could trigger rapid price growth due to the global implications of a U.S.-backed reserve.
However, Paul Howard of Wincent predicted notable market swings, with potential 10% moves in Bitcoin (BTC-USD), Ethereum (ETH-USD), Solana (SOL-USD), and XRP (XRP-USD). “Announcements from the incoming President will drive pricing,” he said.
At the time of writing, Bitcoin is sitting at $99,173.20.